Question: In the entry forms for its contests, Publishers Clearing House states, You may have already won $10,000,000. If the Prize Patrol visits your house to

In the entry forms for its contests, Publisher’s Clearing House states, “You may have already won $10,000,000.” If the Prize Patrol visits your house to inform you that you have won, it offers you $333,333.33 each and every year for 30 years. If the interest rate is 8% p.a., what is the actual present value of the $10,000,000 prize?

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